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Tuesday's Real Estate Headlines August 9, 2011

Tuesday's Headlines

August 9, 2011

NY Times

Back on Stump, Romney Faults Obama on Downgrade
After a week’s vacation, and facing questions about a relatively subdued campaign for the Republican presidential nomination, Mitt Romney kicked off his busiest week yet on Monday and wasted no time in blaming President Obama for America’s credit rating downgrade.

City Room: Cuomo Appoints Panel to Choose New Transit Chief
It may be the toughest job listing in state government: lead an underfinanced, underappreciated mass transit system that is a regular punching bag for politicians, an emblem of bureaucratic inertia, and, incidentally, crucial to the lives of the millions who depend on it each day

NY Post

Ehud Elizur, president of IDB's American real estate subsidiary, said some
290,000 square feet of office space are available, although he's currently .

.. nation's largest lender led a sell-off of bank shares yesterday and was the
biggest loser in the S&P 500 index following fresh mortgage litigation and ...

.. S&P also slashed the ratings of insurance companies with substantial Treasury
holdings, government-backed mortgage giants Fannie Mae and ...


The RED Wrap: The golden goose ain’t dead yet
Sometimes it’s not where we end up but how we get there. Case in point: the Dow at a 10-month low—as it was at the end of the day Monday—is hardly the sort of headline likely to strike fear into investors’ hearts.

Judge OKs project labor agreements
In a win for unions, union contractors and the city, a federal judge finds nothing illegal about special deals made to reduce the cost of public projects.


Governor Cuomo’s Congestion Pricing U-Turn
Transit wonks are hoping Governor Andrew Cuomo might still be their secret savior, and it's starting to look like he might be. Not only has the governor selected a crack team to replace outgoing M.T.A. chief Jay Walder, but he is even said to be considering the impossible—congestion pricing

Chelsea Hotel Passover: A Lot More Than Four Questions as Chetrit Marks the Doors
Shortly before noon last Thursday, a woman with a German accent stepped to the front desk of the Chelsea Hotel, and demanded in clipped English her reservation.

Wall Street Journal

Building Permits Jump
New construction permits in New York are on the rise, a sign that the city's ailing construction industry may be picking up steam.

Hong Kong Land Auction Draws Just One Bid
HONG KONG—A luxury residential property auctioned Tuesday garnered only one bid, for much less than analysts had expected, in the clearest signal yet that the city's long-sizzling property market is finally cooling amid a global equities correction and rising mortgage rates.

Beazer Homes Loss Widens as Closings Tumble
Beazer Homes USA Inc.'s fiscal third-quarter loss widened as the homebuilder saw closings fall in each of its three regions and revenue nearly halve from the year earlier period.

China Overseas Land Net Profit Up 35%
HONG KONG—Blue-chip Hong Kong developer China Overseas Land & Investment Ltd. said Tuesday its first-half net profit rose 35% from a year earlier, lifted by higher property sales.

Freddie Says Loss Narrows
Freddie Mac posted a $2.1 billion loss during the second quarter, down from a year-ago loss of $4.7 billion.

Report: Housing Pain Persists, but Less Pervasive
The pace of home-value declines eased during the spring, but worries over the economy and high levels of foreclosures mean that the housing bottom is as elusive as ever.

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